Barclays Trims Mobileye Global (NASDAQ:MBLY) Target Price to $19.00

Mobileye Global (NASDAQ:MBLY) had its price target dropped by equities researchers at Barclays from $27.00 to $19.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 56.64% from the stock’s current price.

A number of other brokerages have also commented on MBLY. Fox Advisors lowered shares of Mobileye Global from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.00 price target (down previously from $16.00) on shares of Mobileye Global in a research note on Monday, October 7th. Mizuho lowered shares of Mobileye Global from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $30.00 to $13.00 in a research note on Friday, October 11th. Royal Bank of Canada lowered shares of Mobileye Global from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $24.00 to $11.00 in a research note on Tuesday. Finally, Morgan Stanley upgraded shares of Mobileye Global from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $25.00 to $18.00 in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Mobileye Global currently has a consensus rating of “Hold” and a consensus target price of $25.55.

Mobileye Global Stock Performance

Shares of MBLY stock opened at $12.13 on Tuesday. The firm’s 50-day moving average is $13.18 and its 200-day moving average is $22.31. The stock has a market cap of $9.82 billion, a price-to-earnings ratio of -57.76 and a beta of 0.08. Mobileye Global has a 52-week low of $10.48 and a 52-week high of $44.48.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The company had revenue of $439.00 million for the quarter, compared to analysts’ expectations of $424.34 million. During the same period in the prior year, the firm earned $0.11 EPS. Mobileye Global’s quarterly revenue was down 3.3% compared to the same quarter last year. Sell-side analysts predict that Mobileye Global will post -0.06 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Patrick P. Gelsinger purchased 6,400 shares of Mobileye Global stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $15.48 per share, for a total transaction of $99,072.00. Following the transaction, the director now owns 139,106 shares of the company’s stock, valued at approximately $2,153,360.88. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Patrick P. Gelsinger acquired 6,400 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $15.48 per share, with a total value of $99,072.00. Following the purchase, the director now directly owns 139,106 shares in the company, valued at approximately $2,153,360.88. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Amnon Shashua acquired 631,963 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $16.51 per share, with a total value of $10,433,709.13. Following the purchase, the chief executive officer now owns 4,080,097 shares in the company, valued at $67,362,401.47. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mobileye Global

Large investors have recently modified their holdings of the business. Register Financial Advisors LLC bought a new position in shares of Mobileye Global during the first quarter valued at $32,000. Newbridge Financial Services Group Inc. bought a new position in shares of Mobileye Global during the fourth quarter valued at $77,000. Cranbrook Wealth Management LLC bought a new position in shares of Mobileye Global during the second quarter valued at $84,000. Natixis Investment Managers International bought a new position in Mobileye Global during the first quarter worth $99,000. Finally, PNC Financial Services Group Inc. raised its stake in Mobileye Global by 64.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,736 shares of the company’s stock worth $162,000 after buying an additional 1,470 shares during the last quarter. Institutional investors own 13.25% of the company’s stock.

About Mobileye Global

Mobileye Global Inc develops and deploys advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company operates through Mobileye and Other segments. It offers Driver Assist comprising ADAS and autonomous vehicle solutions that covers safety features, such as real-time detection of road users, geometry, semantics, and markings to provide safety alerts and emergency interventions; Cloud-Enhanced Driver Assist, a solution for drivers with interpretations of a scene in real-time; Mobileye SuperVision Lite, a navigation and assisted driving solution; and Mobileye SuperVision, an operational point-to-point assisted driving navigation solution on various road types and includes cloud-based enhancements, such as road experience management.